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Shares of Lamb Weston Holdings (NYSE:LW) fell over 12% on Wednesday after the company reported Q3 results.
Quarterly Results
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Earnings per share fell 18.95% year over year to $0.77, which missed the estimate of $0.93.
Revenue of $937,300,000 up by 1.13% year over year, which missed the estimate of $959,190,000.
Outlook
Lamb Weston Holdings hasn't issued any earnings guidance for the time being.
Revenue guidance hasn't been issued by the company for now.
Details Of The Call
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Date: Apr 01, 2020
Time: 10:03 PM ET
Webcast URL: https://globalmeet.webcasts.com/starthere.jsp?ei=1288600&tp_key=5ed9057866
Price Action
Company's 52-week high was at $96.32
52-week low: $39.06
Price action over last quarter: down 36.92%
Company Profile
Lamb Weston is the world's second-largest producer of branded and private-label frozen potato products, such as French fries, sweet potato fries, tots, diced potatoes, mashed potatoes, hash browns, and chips. The company also has a small appetizer business that produces onion rings, mozzarella sticks, and cheese curds. While 80% of revenue are U.S.-based, the firm also sells its products in Canada, Japan, China, Korea, Mexico, and several other countries. About 86% of the firm's products are distributed into the foodservice channel, while the remaining 14% is sold through retail. Lamb Weston became an independent company in 2016 when it was spun-off from Conagra.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.